How often do houses change hands?
- January 12, 2016
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The analysis of Land Registry data displays that properties are held by their owners averagely for 16 years in the South East and 17 years in London and the South West.
In contrast, homeowners in the North East keep their homes the longest, with property changing hands averagely every 22 years, which is 36% longer than the South East.
The research confirms trends emphasized by market analysts studying the recovery of the housing market following the recession. the typical duration of home ownership has shorted in every region since the depth of the recession in 2010:
Doug Crawford from MyHomeMove, who commissioned the research says “Interestingly, it’s not just the South East that has a relatively healthy number of homes changing hands: the West Country is also thriving. Regional towns like Exeter, Bath and Bristol have vibrant housing markets and the region as a whole also benefits from people moving there from other parts of England”.